A tweet by Elon Musk a few “new drug coming known as Regretamine” has sparked a flurry of memes associated to Dogecoin on social media, together with one from the Tesla CEO himself.
The joke cryptocurrency has seen a surge of curiosity following the current GameStop inventory shopping for frenzy in addition to following earlier Dogecoin-related tweets from Musk.
On March 1, Musk tweeted: “New drug popping out known as Regretamine. Pop one & all regrets are gone.”
Musk then wrote in a subsequent tweet: “Doge meme defend (legendary merchandise).” His newest submit was shared with a cartoon depicting an individual in military gear showing to defend a toddler sleeping on a mattress labeled “Dogecoin” from a rainfall of “Dogecoin worth dropping.”
Musk’s newest tweets have every obtained over 200,000 likes and greater than 20,000 retweets, together with a number of replies with Dogecoin-themed memes.
Consumer @MattWallace888 tweeted: “Anybody who sells Dogecoin too early goes to want a boatload of Regretamine sooner or later sooner or later with a purpose to cease regretting it.”
The submit was shared with a meme of Musk in addition to rapper Snoop Dogg and Gene Simmons from the band Kiss—both of whom have previously tweeted about Dogecoin—driving a transferring prepare titled “Hop on the prepare.”
Consumer @itsALLrisky tweeted: “The one drug value taking: The #DogePill,” sharing a cartoon depiction of two palms holding a bottle of “arduous to swallow drugs.” The underside half of the cartoon mentioned “sometime, your nanna will purchase groceries with Dogecoin,” exhibiting a pair of palms holding a number of Dogecoins.
Consumer @DogeArmyMajor tweeted: “I have been Doge pilled,” posting a picture of 1 hand holding a Bitcoin, with the opposite hand holding a number of Dogecoins.
On Tuesday, the value of Dogecoin (listed as DOGE on the cryptocurrency market) was recorded to be at $0.050659 USD, with a 24-hour buying and selling quantity of $1,537,714,102 USD. Its newest value marked a 1.09 % rise within the final 24 hours, on the time of reporting, in accordance with CoinMarketCap.
On Sunday, the builders for Dogecoin launched the cryptocurrency’s first vital replace since July 2019.
The replace included “essential efficiency enhancements” akin to one which “considerably improves the pace at which a node can add blocks.”
The most recent replace additionally lowered “the default time that transactions are cached within the mempool from 336 hours to 24 hours.”
The value of Dogecoin, which started as a joke when it launched in 2013, soared from late January to early February earlier than declining and stabilizing in current weeks, in accordance with information from CoinMarketCap.
It beforehand hit document ranges, together with an increase of more than 800 percent, reaching around $0.082 at one point.
Dogecoin’s rise got here after the value of GameStop shares skyrocketed, fueled by investments from users on the subreddit r/WallStreetBets.
The GameStop value surge impressed members of the subreddit r/SatoshiStreetBets—which describes itself as “the crypto model of WallStreetBets”—to aim to do the identical for Dogecoin.
In current days, a years-old petition urging Amazon to let prospects pay in Dogecoin additionally garnered fresh attention as members of a well-liked Reddit neighborhood resurfaced the marketing campaign and urged others to signal.
The petition, titled Doge4Amazon, was launched on Change.org in September 2018 by a consumer named “Mark E” with the purpose of attracting 25,000 signatures. As of March 2, the petition has obtained over 106,500 signatures.
In early February, Mastercard announced it will “start supporting select cryptocurrencies directly on our network” this 12 months, as it’s “making ready for the way forward for crypto and funds.”
The cardboard firm’s newest transfer would enable prospects to settle their funds utilizing cryptocurrencies. This is able to imply prospects may pay distributors instantly in cryptocurrency.
Dogecoin’s rise has additionally generated renewed curiosity in different cryptocurrencies, together with Bitcoin, the world’s first and largest cryptocurrency based mostly on market cap value.
In early February, Tesla introduced it had invested round $1.5 billion in Bitcoin, whereas the value of Ethereum, the second-largest cryptocurrency by market cap value, surpassed $1,500 for the first time.